rewrite this content using a minimum of 1000 words and keep HTML tags
Asset management and exchange-traded fund (ETF) issuer VanEck has launched a new institutional product based on layer-1 blockchain Sui (SUI).
In a press release, VanEck says it’s expanding its offerings with a new exchange-traded note (ETN) that allows investors to participate in the development of SUI without having to directly hold the token.
The new product will trade on the Euronext Amsterdam and Euronext Paris stock exchanges starting Wednesday morning.
Says Menno Martens, Crypto Product Manager at VanEck Europe,
“In our view, this network has strong growth potential, because its consistently low transaction costs make it a real alternative to older blockchains. The VanEck Sui ETN gives investors the opportunity to participate in the development of this promising blockchain network in an exchange-traded and comparatively simple way.”
Martijn Rozemuller, CEO at VanEck Europe, says that Sui’s speed and simplicity give the chain an ability to act as a “kind of bridge between the Web2 and the decentralized Web3.”
As described by VanEck’s product overview page,
“Experience the speed and scalability of next-generation blockchain technology. Sui offers instant finality and parallel transaction processing, paving the way for more responsive and user-friendly decentralized applications. The VanEck Sui ETN is a fully-collateralized exchange traded note that invests in the SUI Token.”
Matthew Sigel, the firm’s head of digital assets, also confirmed the launch of the new product on the social media platform.
SUI hit an all-time high of $3.44 early on Wednesday around the same time that the ETN went live.
At time of writing, SUI is trading for $3.34.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
